Philosophy Now Forum

bobevenson wrote: ↑Sat Jun 03, 2017 11:03 pm You should squat and do what you do best!

That's exactly what you do.

PhilX

bobevenson wrote: ↑Sat Jun 03, 2017 11:26 pm Sorry, you're going to have to come up with your own lines instead of glomming on to mine all the time.

All the time? I'm saying you keep looking in that mirror.

PhilX

bobevenson wrote: ↑Sat Jun 03, 2017 11:45 pm I'm saying 99.44 percent of the time, like the purity of P&G's Ivory soap, the company whose ass I kicked along with the FBI's.

Can you document that through public records?

PhilX

bobevenson wrote: ↑Sat Jun 03, 2017 9:25 pm No, I'm sorry, what makes you a motherfucking idiot is that you fail to realize that the government in charge of fiat money is responsible for any inflation associated with that money, in other words, the dilution in the value of that money when purchasing goods and services. Unless you understand that basic economic fact, you will continue to wallow in your ignorant assessment of the problem.

But you want to be in charge of the fiat money. That's what your AEP fantasy is all about.

And you want to create so much new money that there is a corresponding dollar for every item in the world that is worth a dollar.
That's a lot more dollars than there are.
So you have to create a lot of dollars, which will dilute the dollar.
And then the dollar's value will be a fraction of what it was, so you will have to repeat the exercise.
Ad then the AEP is responsible for a hyper-inflationary spiral.

The AEP wants to make much more of something in order for it not to lose its unitary value. Perhaps you need to learn about supply and demand.

It's also a circular argument --- creating money to equal the monetary value of objects. The amount of money changes the value of objects, so as the money supply increases, and the price of objects rises, we would have to increase the money supply even more. This is nonsense.

bobevenson wrote: ↑Mon Jun 05, 2017 5:28 pm it's imperative for the government to control the quantity of money in circulation to avoid inflation.

That changes nothing.

Creating more money dilutes the value of money (which according to the AEP is a crime against humanity).
The money in circulation today does not come remotely close to matching the value value of extant goods (just plain old hardware such as land and houses and cars and TVs and beer).
The AEP is committed to creating money equal to the exact value of all the above and more.
Therefore the AEP is committed to massively diluting the currency.
Therefore the AEP is committed to a crime against humanity.

FlashDangerpants wrote: ↑Mon Jun 05, 2017 11:30 pm The money in circulation today does not come remotely close to matching the value value of extant goods (just plain old hardware such as land and houses and cars and TVs and beer).

In circulation in the sense of being in the form of dollar bills, no, but the value of the US currency as a whole will be exactly equal to the total of goods and services that can be purchased for dollars.

Bob loves to misrepresent my position. Any one can read my comments and they will not find me ever once stating that an increase in the money supply is unassociated with inflation. What I stated was that banks also create money, a concept Bob refuses to understand, and so banks add to the problem.

Science Fan wrote: ↑Tue Jun 06, 2017 2:14 pm Bob loves to misrepresent my position. Any one can read my comments and they will not find me ever once stating that an increase in the money supply is unassociated with inflation. What I stated was that banks also create money, a concept Bob refuses to understand, and so banks add to the problem.

It should be mentioned that banks create money through lending, that's the process they use.

PhilX

Science Fan wrote: ↑Tue Jun 06, 2017 2:14 pm Bob loves to misrepresent my position. Any one can read my comments and they will not find me ever once stating that an increase in the money supply is unassociated with inflation. What I stated was that banks also create money, a concept Bob refuses to understand, and so banks add to the problem.

Yes, banks create money, and the government should control the amount of money created.

Philosophy Explorer wrote: ↑Tue Jun 06, 2017 2:18 pm
It should be mentioned that banks create money through lending, that's the process they use.

Well, they increase the money supply; they can create liquidity. But they are also constrained by the state of the economy generally. I can also create money in the sense of extending credit...but I am constrained by the worry I might not get paid back!